What is an escrow account?
An account that is created with your mortgage to collect and disburse payments related to real estate taxes and insurance.
What is an asset depletion mortgage?
An asset depletion mortgage is a type of home loan that allows borrowers to qualify based on their liquid assets rather than their income.
What is a Property Inspection Waiver (PIW)?
A Property Inspection Waiver (PIW) is an offer to waive the appraisal requirement for eligible mortgage transactions. Instead of getting a traditional appraisal with a visit to the subject property,
What is the difference between a charge card and a credit card?
Credit cards and charge cards are tools for making purchases without the need of cash. However, there functionalities and repayment mechanisms diverge significantly.
What is this per diem interest on my mortgage Loan Estimate?
Per diem interest is the daily interest charged on your mortgage. Typically, mortgage lenders collect interest from the date of the mortgage